Page:United States Statutes at Large Volume 110 Part 2.djvu/792

110 STAT. 1584
PUBLIC LAW 104-180—AUG. 6, 1996
Rural Business-Cooperative Service, and the Rural Utilities Service
of the Department of Agriculture, $588,000.
RURAL HOUSING SERVICE
RURAL HOUSING INSURANCE FUND PROGRAM ACCOUNT
(INCLUDING TRANSFERS OF FUNDS)
For gross obligations for the principal amount of direct and
guaranteed loans as authorized by title V of the Housing Act of
1949, as amended, to be available from funds in the rural housing
insur£ince fund, as follows: $3,300,000,000 for loans to section 502
borrowers, as determined by the Secretary, of which $2,300,000,000
shall be for unsubsidized guaranteed losuis; $35,000,000 for section
504 housing repair loans; $15,000,000 for section 514 farm labor
housing; $58,654,000 for section 515 rental housing; $600,000 for
section 524 site loans; $50,000,000 for credit sales of acquired
property; and $600,000 for section 523 self-help housing land development loans.
For the cost of direct and guaranteed IOEUIS, including the
cost of modifying loans, as defined in section 502 of the Congressional Budget Act of 1974, as follows: section 502 loans, $89,210,000,
of which $6,210,000 shall be for unsubsidized guaranteed loans;
section 504 housing repair loans, $11,081,000; section 514 farm
labor housing, $6,885,000; section 515 rental housing, $28,987,000;
credit sales of acquired property, $4,050,000; and section 523 self-
help housing land development loans, $17,000.
In addition, for administrative expenses necessary to carry
out the direct and guaranteed loan programs, $366,205,000, which
shall be transferred to and merged with the appropriation for
"Rural Housing Service, Salaries and Expenses".
RENTAL ASSISTANCE PROGRAM
For rental assistance agreements entered into or renewed
pursuant to the authority under section 521(a)(2) or agreements
entered into in lieu of debt forgiveness or payments for eligible
households as authorized by section 502(c)(5)(D) of the Housing
Act of 1949, as amended, $493,870,000; and in addition such sums
as may be necessary, as authorized by section 521(c) of the Act,
to liquidate debt incurred prior to fiscal year 1992 to carry out
the rental assistance program under section 521(a)(2) of the Act:
Provided, That of this amount not more than $5,900,000 shall
be available for debt forgiveness or payments for eligible households
as authorized by section 502(c)(5)(D) of the Act, and not to exceed
$10,000 per project for advances to nonprofit organizations or public
agencies to cover direct costs (other than purchase price) incurred
in purchasing projects pursuant to section 502(c)(5)(C) of the Act:
Provided further, That agreements entered into or renewed during
fiscal year 1997 shall be funded for a five-year period, cilthough
the life of any such agreement may be extended to fully utilize
amounts obligated.